Stages in Enactment of Budget | Budgetary Process in India - Target IAS Kannada

Stages in Enactment of Budget | Budgetary Process in India - Target IAS Kannada

Budgetary Process in India - Stages in Enactment of Budget 1. Presentation of Budget   The budget is presented in the Lok Sabha by the Finance Minister , traditionally on the last working day of February, but since 2017, it has been advanced to 1st February . It can be presented in parts, and no discussion takes place on the presentation day. The budget speech outlines the proposals, after which the budget is laid before the Rajya Sabha, which can discuss but not vote on it. The key documents presented include: Budget Speech Annual Financial Statement Demands for Grants Appropriation Bill Finance Bill Statements under the FRBM Act Expenditure Budget Receipts Budget Expenditure Profile Memorandum on Finance Bill Budget at a Glance Outcome Budget The  Economic Survey , previously presented alongside the budget, is now presented separately, typically a day or a few days before the budget. Prepared by the  Finance Ministry , it provides an overview of the national economy, highlighting key trends, challenges, …